BDO Acquisition Of Citibank

Sir I want to know about the acquisition of Citibank by the BDO Banco De Oro Savings Bank Inc so can you please tell me the details for the same

[Kiran Chandar]

BDO president Nestor Tan earlier said the acquisition mode of the bank is consistent with the company’s thrust to grow its business locally in preparation for the 2015 Asean Integration by expanding its distribution network.


Citibank Savings will be renamed Banco De Oro Savings Bank Inc

BDO Unibank Inc. (BDO), the Sy Group’s banking unit, has completed the acquisition of Citibank Savings Inc. (CSI), the local savings bank of global financial lender Citi Group.

BDO acquired Amex Savings in 2007, GE Money in 2009 and Rural Bank of San Juan in 2012

The acquisition of Citibank Savings will definitely increase BDO's total resources and grow further its loans and deposit segment.

Citibank Savings has 10 branches in the Philippines—eight in Metro Manila, one in Pampanga, and another in Davao

BDO ranked as the largest bank in terms of total assets, loans, deposits, capital and trust funds under management based on published statements of condition as of June 30, 2013.


Mergers and acquisitions

1 Dao Heng Bank

2 Banco Santander Philippines

3 United Overseas Bank Philippines

4 Equitable PCI Bank

5 GE Money Bank

6 Citibank Savings

7 Deutsche Bank Philippines

8 The Real Bank

9 One Network Bank